HOUSTON, Sept. 2, 2020 /PRNewswire/ -- Main Street
Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to
announce that it recently completed a new portfolio investment to
facilitate the minority recapitalization of Superior Rigging &
Erecting Co. ("Superior" or the "Company"), a leading provider of
rigging, steel erection and crane & equipment rental services
throughout the southeastern United States. Main Street
partnered with the Company's management team to facilitate the
transaction, with Main Street funding $26.0
million in a combination of first-lien, senior secured term
debt and a direct equity investment. In addition, Main Street
is providing Superior with access to additional term debt to
facilitate its future growth needs.
Founded in 1952, and headquartered in Atlanta, Georgia, Superior
(www.superiorrigging.com) provides rigging, steel erection and
crane & equipment rental services to customers across the
southeastern United States.
The Company offers crane, forklift, tractor trailer and
accessory equipment rental in addition to a variety of services,
including structural steel erection, specialized rigging,
millwrighting, turnkey plant services, heavy transport and
warehousing. Superior maintains one of the largest fleets of
cranes, forklifts and other peripheral equipment for contract or
rental and partners with some of the most well-respected general
contractors in its markets.
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street
(www.mainstcapital.com) is a principal investment firm that
primarily provides long-term debt and equity capital to lower
middle market companies and debt capital to middle market
companies. Main Street's portfolio investments are typically
made to support management buyouts, recapitalizations, growth
financings, refinancings and acquisitions of companies that operate
in diverse industry sectors. Main Street seeks to partner
with entrepreneurs, business owners and management teams and
generally provides "one stop" financing alternatives within its
lower middle market portfolio. Main Street's lower middle
market companies generally have annual revenues between
$10 million and $150 million. Main Street's middle market
debt investments are made in businesses that are generally larger
in size than its lower middle market portfolio companies.
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO,
dhyzak@mainstcapital.com
Brent D. Smith, CFO,
bsmith@mainstcapital.com
713-350-6000
Dennard Lascar Investor
Relations
Ken Dennard |
ken@dennardlascar.com
Zach Vaughan |
zvaughan@dennardlascar.com
713-529-6600
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SOURCE Main Street Capital Corporation